ARES-SERONO TO BUY SOREBIO OF FRANCE
Swiss company Ares-Serono has reached agreement to acquire 100% of the equity of Sorebio Sarl, a Bordeaux, France-based specialty company involved in process development for cell-derived products and production services based exclusively on cell culture technologies. It has contracted services for Ares Serono (see also page 3) since 1992.
Financial details of the offer are not disclosed. However, it is reported that Sorebio posted 1993 sales of around 4.5 million French francs ($789,480) and had a staff of 28 people at year-end. Ares-Serono deputy chief executive Ernesto Bertarelli says the acquisition will be an asset in bringing new recombinant pharmaceuticals to market faster.
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